So far, insurers have been balking at paying business interruption plans for pandemic shutdowns, but that is likely to change.
Pension funds are finding it hard to value their real estate holdings amid the pandemic disruption, reports the Wall Street Journal. Up to 28 million Americans might soon be facing evictions, according to CNBC. These are among today’s must reads from around the commercial real estate industry.
Wednesday, July 22, 2020 | 2:00 PM Eastern Daylight Time
The extension means that the financial information tied to the D.C. hotel likely won’t get released before the election.
National office and apartment vacancy rates rose only marginally in the second quarter, reports Reuters. As online sales boom during the pandemic, the U.S. may need another 1 billion square feet of warehouse space by 2025, according to CNBC. These are among today’s must reads from around the commercial real estate industry.
Labor costs in the sector are increasing as operators confront labor shortages and higher risk to staff.
Many are having difficulty completing their programs’ internship requirements, and onboarding for first jobs is challenging via Zoom.
The owners of Ann Taylor and Lane Bryant could file for Chapter 11 by the end of this week.
The chain plans to close 200 stores over the next two years in an effort to cut costs.
Over 77 percent of U.S. apartment households made full or partial rent payments by July 6, according to NMHC. Brooks Brothers has filed for bankruptcy protection, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
As Retail Anchors Go Under, Landlords Offer Rent Concessions in Exchange for Other Tenants’ Co-Tenancy Clauses
Co-tenancy clauses wrecked havoc on retail landlords during the last recession. This time, landlords are trying new negotiating tactics.
The bank was planning to bring as many as half of its Columbus, Ohio workers back to the office by Labor Day.
The properties hitting the market today tend to be smaller. Investors are holding onto stabilized assets if they can and distressed deals haven't hit the market yet.
The REIT sold $500 million in green bonds after the offering was boosted by strong investor demand.
CMBS delinquencies surged at a record monthly rate in June, according to CNBC. Real estate developers are on the list of companies that took stimulus loans, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
Michael Shvo and partners are going ahead with the purchase of Transamerica Pyramid.
Though there are many forces at play, an office environment will remain relevant and important in the long term.
Moveable Walls, But Same Size Floor Plates: How Office Projects Are Changing in Response to COVID-19
As some office projects push ahead, architects are incorporating new features to allow for more flexibility.
Zara owner Amancio Ortega has amassed real estate holdings valued at $17.2 billion, including investing more than $3 billion in U.S. assets.
Commercial property sales in New York City took a deep dive in the second quarter, reports the Wall Street Journal. As department stores disappear, regional malls could follow, according to the New York Times. These are among today’s must reads from around the commercial real estate industry.